Terms & Conditions for Attending and Absentee Bidding at a Room Auction

The highest bidder shall on the fall of the hammer for a particular lot be the successful purchaser and will be deemed to have entered into a binding contract (subject to the conditions set out below) with the Auctioneer as owner of the lot in its own right or with the Auctioneer as the duly appointed agent of the owner (as the case may be).

In the event of any dispute as to the bidding in respect of any lot, the Auctioneer shall have absolute discretion to settle the dispute as sole arbitrator and his decision shall be final and binding.

The Auctioneer has a right:-

To refuse any bids.

To advance the bidding at his absolute discretion.

To place a reserve on any lot.

To bid on behalf of any prospective purchaser with or without disclosure.

To place bid or bids on behalf of the owner.

To withdraw any lot from sale.

To require a successful purchaser to pay forthwith the whole or part of any of the purchase price.

To refuse any person or persons admission to or eject them from the auction site.

To forbid any party from filming, photographing and/or video recording any auction or lots without the prior written permission of the Auctioneer.

Subject to 5 below, the purchaser acknowledges that the Auctioneer acts as the agent of the owner of the lot or as the owner of the lot in its own right and as such neither the Auctioneer in either capacity (as the case may be) or the owner of the lot shall be responsible for any defects or faults in respect of any lot. All lots are open for inspections prior to sale and it is the prospective purchaser’s sole responsibility to inspect such lots prior to the commencement of the auction.

As from the fall of the hammer all risks in relation to the lot passes to the successful purchaser notwithstanding that the title to the lot sold remains with the owner until such time as payment for the lot has been made in full.

All sales are final. No refunds or exchanges will be given. Notwithstanding if within 7 days after the fall of the hammer the Auctioneer shall receive from the successful purchaser notice in writing accompanied by the written opinion of a competent expert or authority that the lot purchased is not as described in the catalogue or as represented by the Auctioneer then the Auctioneer will within 7 days of receipt of such notification refund to the successful purchaser the full purchase price paid subject to the return of the lot purchased in the same condition and state of repair as at the time of the fall of the hammer and subject further to the Auctioneer being satisfied as to the validity of the claim.

All bids are deemed to be inclusive of GST (where applicable) or any other value added tax or goods and services tax. The successful purchaser in addition to payment of the amount of the successful bid will also be responsible for payment of a buyer’s premium as nominated by the Auctioneer prior to the commencement of the Auction or failing which the amount specified in the auction catalogue. Payment is to be made by cash, Visa, MasterCard & American Express.

Each lot shall be paid for and removed at the expense of the successful purchaser, on the day that the sale takes place, or at the sole discretion of the Auctioneer a deposit of 20% will be accepted by the Auctioneer and must be paid by the successful purchaser on the day of sale and the balance due and owing must be paid to the Auctioneer and the lots removed by 5.00pm within the number of days following the auction as shall be nominated by the Auctioneer. Failure of the successful purchaser to comply with this condition will be deemed a breach of the Contract whereupon the Auctioneer will be entitled to forfeit any deposit paid and to terminate the Contract. The purchaser understands that :

Time shall be of the essence in respect of payment of amounts due. The purchaser shall pay interest on overdue amounts at the rate of 1.5% per month in addition to the rate prescribed by the appropriate Court having jurisdiction in relation to any claim for monies owing.

If the purchaser fails to pay as herein provided, the purchaser shall remain liable for the amount of the successful bid plus the buyer’s premium referred to in 6 above and, until such payment is made in full, any deposit forfeited shall be payable by way of liquidated damages.

Upon full settlement of the lot, purchasers may collect their purchases at the auction location on the same day as the auction, arrange to collect them from First State Auctions Head Office in Sydney or arrange to have them shipped to a destination of the purchaser's choice. For all purchases requiring shipping from Australia the purchaser shall be fully responsible for all customs clearance charges, duties, taxes and other charges in their respective countries. For all purchases requiring shipping from Australia with the invoice value being less than AUD 1,500, the purchase will incur an AUD 50 shipping and insurance fee.

The party named on the registration form shall be deemed to be the purchaser unless the Auctioneer is prior to the commencement of the auction provided with written evidence that the party is acting for and on behalf of a principal and shall supply the full name and address of the principal.

In this agreement:-

Fall of the hammer means such time as a purchaser has bid for a particular lot and the Auctioneer has acknowledged that purchaser as being the successful purchaser at which time a binding contract subject to these terms and conditions has been entered into.

Auctioneer means First State Auctions Pty Ltd ACN 083 150 298 trading as First State Auctions and any of its associated and subsidiary companies and entities or their duly appointed employees, servants and agents.

Lot means any lot or lots for sale either individually or as a group at the Auctioneer’s sole discretion.

Each lot in the catalogue is given a low and high estimate representing that range which, in the opinion of First State Auctions, represents a fair and probable auction value. When possible, the estimate is based on previous auction records of comparable property, condition, rarity & quality. The estimates are often determined several weeks before a sale and are therefore subject to change upon further research of the item, or to reflect market conditions or currency fluctuations. Estimates are subject to revision. Actual prices realised for items can fall below or above this range. An estimate of the selling price should not be relied on as a statement that this is the price at which the item will sell or its value for any other purpose.

If for any cause a purchased lot cannot be delivered in as good condition as at the time of sale, or should any purchased lot be stolen or mis-delivered or lost prior to delivery, First State Auctions shall not be liable for any amount in excess of that paid by the purchaser.

The purchaser agrees that these Terms and Conditions and any claim and any dispute between the Auctioneer, purchaser or any other relevant party, shall be construed by the laws of the country in which the auction takes place, unless otherwise expressly nominated by the Auctioneer in its sole discretion.

The provisions contained in each Clause of these Conditions of Sale, and any part thereof, shall be enforceable independently of the remainder of these Conditions of Sale and its validity shall not be affected if any other part is invalid to any extent.

Absentee Bidding - For both telephone and maximum bids

If you are unable or do not wish to attend a room auction you can place an Absentee Bid online.

The latest your Absentee Bid can be submitted online is 1 hour prior to the start of the auction viewing. If the Absentee Bid form is not fully completed it will not be able to be processed.

Pre-authorisation of $1 will be taken to validate your credit card when you submit your Absentee Bid.

If your bid is successful, full payment will be taken from the credit card provided, and the goods will be sent out by secured & insured post within 3 working days, or can be collected from our Sydney Head Office. A member of our Customer Service Team will contact you prior to shipping for further verification and shipping confirmation.

Absentee Bidding is a complimentary service offered by First State Auctions, who are not obliged to act on this instruction, and cannot be held liable for any loss or damages arising from any failure to comply.

Absentee Bidder responsibilities:

To comply with the Conditions of Sale and any special conditions that apply to the auction where the Absentee bid is placed.

To make contact with First State Auctions within 24 hours of the lot being offered or within the time limit specified by the auctioneer.

To not revoke this authorisation after the lot(s) detailed have been offered.

To pay the auctioneer all costs involved with the lots(s) offered after any successful bids.

Terms & Conditions - Credit Notes

This section sets out the Terms and Conditions of Credit Notes issued by First State Auctions. These Terms and Conditions are applicable from the time of issue of the Credit Note until the time of expiry:

ISSUE

First State Auctions Credit Notes are issued only by First State Auctions Head Office in its sole discretion.

First State Auctions Credit Notes are not redeemable for cash and are non refundable.

REDEMPTION

Amounts issued on a First State Auctions Credit Note are in Australian Dollars (AUD) or in the currency in which the original purchase was made.

Credit Notes can only be redeemed on goods auctioned at First State Auctions room auctions.

Credit note redemption can only be redeemed in Australian Dollars (AUD) or in the currency in which the original purchase was made.

Credit notes cannot be redeemed for First State Auctions online auctions.

Goods purchased using a Credit Note are sold subject to the normal First State Auctions Terms and Conditions for goods purchased in room auctions.

In the event that your purchase is greater than the value of your Credit Note, First State Auctions will require you to pay the additional amount.

In the event that your purchase is less than the value of your Credit Note, your Credit Note will be partially allocated to your purchase. The balance of the Credit Note will continue to be available for your use but must be fully used within 12 months from the original date of issue of the Credit Note.

EXPIRY DATE

All First State Auctions Credit Notes are valid for 12 months from the issue date.

It is the customer’s responsibility to redeem the value placed on the Credit Note within that time frame.

First State Auctions is unable to extend Credit Notes beyond the expiry date.

SECURITY

The receiver of the First State Auctions Credit Note is responsible for the safety and use of the Credit Note.

Terms & Conditions - Loyalty Club and the Loyalty Club Rewards Program

INTRODUCTION

These Terms and Conditions form the basis of The First State Auctions Loyalty Club and the Loyalty Club Rewards program.

MEMBERSHIP

Only individuals over 18 years of age are eligible to join The First State Auctions Loyalty Club. Membership of the Loyalty Club is free. A person can only apply to become a member of the program directly with First State Auctions. Loyalty Club Members will be bound by these Terms and Conditions which may be varied from time to time due to the needs and requirements of the business. Any alterations/changes/decisions in relation to the Loyalty Club are at the sole discretion of First State Auctions and are final. A member must provide First State Auctions with an email address and/or a mobile phone number for correspondence. A member must notify First State Auctions of any change of email address or change of key contact details. First State Auctions may unilaterally terminate a membership of the Loyalty Club without notice for any reason including, without limitation, if the member:

Fails to comply with these membership Terms and Conditions.

Abuses any privilege accorded to the member.

Supplies any misleading information or makes any misrepresentations to First State Auctions.

If the member does not use his or her membership for a period of 12 months or dies or becomes bankrupt.

A member may terminate his or her membership in The First State Auctions Loyalty Club at any time by giving notice to First State Auctions. If a member has Loyalty Reward Dollars and wishes to terminate his or her membership in The First State Auctions Loyalty Club, written notice will be required.

MEMBER BENEFIT - LOYALTY CLUB REWARD DOLLARS

These Terms and Conditions are applicable from the time of issue of the Loyalty Club Reward Dollars until the time of expiry:

Issue

First State Auctions Reward Dollars are issued only by First State Auctions Head Office in its sole discretion.

Reward Dollars at all times remain the property of First State Auctions but are credited to a members account in line with the Loyalty Club program.

Reward Dollars will not be issued until an individual becomes a member.

Reward Dollars will not be back-dated.

Reward Dollars cannot be redeemed for the auction where they are earned.

Reward Dollars cannot be redeemed for another auction that occurs on the same day that the rewards are earned.

Reward Dollars are not redeemable for cash, are not transferable and are non refundable.

Reward Dollars are automatically cancelled by First State Auctions if a member ceases to be a member.

Members can confirm the number of Reward Dollars held by them by contacting First State Auctions Head Office.

Any tax, liability, or duty arising from a member’s participation in The First State Auctions Loyalty Club is the responsibility of the member.

Earning reward dollars

Reward Dollars will be credited to a member’s account for purchases from First State Auctions.

First State Auctions will determine which goods qualify for Reward Dollars and the number of Reward Dollars that will be credited to a member’s account for such purchases.

The current level of Reward Dollars is based on 5% of members purchases but may be varied by First State Auctions in it sole discretion at any time with or without consultation.

Loyalty Club Reward Dollars are calculated on the Auctioneer’s Hammer Amount (excluding the buyer’s premium).

Promotional and incentive programs may be offered from time to time.

Redemption

Reward Dollars are earned in the currency according to the country in which the sale occurred. They can only be redeemed in the currency in which they were earned unless approved in writing by First State Auctions and at the exchange rate nominated at First State Auctions discretion.

Reward Dollars are not redeemable for cash.

Reward Dollars cannot be redeemed for First State Auctions online auctions.

Goods purchased using Reward Dollars are sold subject to the normal First State Auctions Terms and Conditions for goods purchased in room auctions.

In the event that a member’s purchase is greater than the value of their Reward Dollars, First State Auctions will require the member to pay the additional amount.

In the event that the member’s purchase is less than the value of their Reward Dollars, their Reward Dollars will be partially allocated to their purchase. The balance of the Reward Dollars will continue to be available for the member’s use but must be fully used within 12 months from the original date of issue of the Reward Dollars.

Expiry date

All Reward Dollars are valid for 12 months from the issue date.

Any Reward Dollars not redeemed within 12 months from the issue date will, at the discretion of First State Auctions, expire and will be deducted from the Reward Dollars balance in the member’s account.

It is the member’s responsibility to redeem the value of the Reward Dollars within that time frame.

MEMBER BENEFIT - RING RESIZING

A current benefit of the Loyalty Club is complimentary ring resizing for all Loyalty Club Members for rings purchased at First State Auctions room auctions.

The ring resizing benefit only applies to a maximum of 3 ring sizes up or down unless stated otherwise in the item description.

Ring resizing beyond the 3 complimentary sizes will be charged to the member.

Complimentary resizing of rings only applies for the first resize following the purchase. Any subsequent ring resizing will be charged to the member.

Proof of purchase is required from members for ring resizing requests that are not made on the day of the auction.

GENERAL

First State Auctions reserves the right to deduct Reward Dollars from a member’s account if any points have been credited in error and/or if any Reward Dollars relate to a purchase which is cancelled or reversed or where a refund has been made or a purchase has been credited.

First State Auctions reserves the right to deduct Reward Dollars from a member’s account if a member owes First State Auctions money.

First State Auctions reserves the right to suspend or terminate the Loyalty Club and/or the Loyalty Club Reward Dollars at any time without prior notice. First State Auctions will not be liable for the suspension or termination of the Loyalty Club and/or the Loyalty Club Reward Dollars and/or a member on any account whatsoever including (without limitation) for any Reward Dollars balance in a member’s account at the time of suspension or termination.

First State Auctions assumes no liability to a member whether for negligence, breach of contract or otherwise in regard to the Loyalty Club, Reward Dollars and/or membership.

Loyalty Club members consent to First State Auctions using members' information in line with the First State Auctions Privacy Policy.

Disputes about any details regarding members' Reward Dollars must be notified to First State Auctions in writing.

The decision of First State Auctions in any such dispute is final and binding.

Terms & Conditions - Warranty on Watches

There is a 3 month limited warranty on “pre-owned” and “as-new” watches provided by FSA.

For “new” watches, FSA provides a limited warranty for the equivalent of the manufacturer’s warranty period.

The hands, dial, and watch movement are the only components covered under the limited warranty.

This is a limited warranty and does not include:

Ageing and wear and tear from normal use.

Damage resulting from improper handling, negligence, accidents, tampering or incorrect use of the watch.

Any external damage to the product.

Change of battery.

Any loss of stones or gems on the outer portion of the watch or watch face.

Moisture damage to a watch not marked water resistant.

Any damage that occurs as a result of a water resistant watch being used under conditions which exceed the watch manufacturer’s water resistance guidelines.

Water damage caused to a water resistant watch where the crown is not screwed down.

Please note that any modifications or 3rd party repairs will void the warranty.